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Urban Company to file for ₹3,000 cr IPO by March-end
Livemint
·
6m ago
Medial
Urban Company, a home services platform, plans a ₹3,000 crore IPO by March. With a valuation of $2.1 billion in 2021, it has engaged Kotak Mahindra Capital, Goldman Sachs, and Morgan Stanley to manage the offering. The IPO will consist of new and existing shares. Founded in 2014, Urban Company provides services in 50 Indian cities and internationally. In FY24, its revenue rose 30% to ₹827 crore, with losses reducing significantly.
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Grapevine: Urban Company, Groww, Apollo Global-backed Tenneco plan IPOs
VCCircle
·
6m ago
Medial
Reports indicate that Urban Company, Groww, and Tenneco are preparing for IPOs in the upcoming months. Prosus-backed Urban Company is expected to file draft papers for a Rs 3,000-crore IPO by March's end. Groww, an investment platform, and Apollo Global-backed Tenneco are also planning their initial public offerings. These moves demonstrate the continued interest and activity in the market, as companies seek to expand and tap into public investment.
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Urban Company Slashes IPO Size to ₹528 Cr, Gets Green Light from Board
OutlookIndia
·
3m ago
Medial
Urban Company has received board approval to reduce its IPO size to ₹528 crore from an initially planned ₹3,000 crore. The company plans to file draft papers with SEBI soon. This decision comes after entering the quick commerce sector with Insta Maids, a 15-minute booking service for household help. Urban Company has raised $376 million across 12 funding rounds, with a valuation of $2.5 billion. It also launched products like water purifiers and smart locks.
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Exclusive: Urban Company converts into public company
Entrackr
·
6m ago
Medial
Urban Company is preparing for a definitive initial public offering (IPO) this year. The company has taken its first significant step toward going public by converting into a public entity. The board of OfBusiness has approved a resolution to change its status to a public company and rename it from "Urbancalp Technologies India Private Limited" to "Urbanclap Technologies India Limited," according to its regulatory filing. Urban Company reportedly aims to raise Rs 3,000 crore (approximately $350 million) through its IPO and has hired Kotak Mahindra Bank, Goldman Sachs, and Morgan Stanley as its lead managers. It is likely to file draft IPO papers by the end of March. Ahead of the IPO, Prosus is planning to increase its investment in the company. Prosus is reportedly looking to invest $30 million (Rs 250 crore) in a secondary deal, allowing Bessemer Venture Partners to make a partial exit. The Abhiraj Bhal-led company concluded its last ESOP liquidity program in December 2021 at a valuation of $2.8 billion. Last year, it also completed a new buyback at a valuation of approximately $2.2 billion to $2.5 billion. According to startup data intelligence platform TheKredible, Urban Company has raised Rs 3,457.16 crore (more than $450 million) from investors including Tiger Global, Accel, Elevation Capital, and Dharana, among others. Urban Company operates in more than 60 cities across India, the UAE, Singapore, and Saudi Arabia. The company has a partner network of over 55,000 hand-picked service professionals. For the fiscal year ending in March 2024, Urban Company's revenue from operations grew 30% year-on-year to Rs 827 crore from Rs 637 crore in FY23. The Gurugram-based startup also reported a 70% decline in losses to Rs 93 crore in the last fiscal year.
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Urban Company secures shareholder nod for IPO, to raise Rs 528 crore in fresh capital
Economic Times
·
4m ago
Medial
Urban Company has received shareholder approval for an IPO to raise Rs 528 crore in fresh capital. Initially targeting a Rs 3,000 crore IPO, the company adjusted its plans due to market conditions. The IPO will include both primary capital raise and an offer-for-sale from investors. Urban Company has appointed Kotak Mahindra, Goldman Sachs, and Morgan Stanley as bankers. The company narrowed its net loss in fiscal 2024 and reported a pre-tax profit in early 2025.
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Sify eyes ₹3,000 cr data centre IPO, hires bankers
Livemint
·
6m ago
Medial
Sify Infinite Spaces, a data centre unit of Sify Technologies Ltd., plans to raise ₹3,000 crore through an IPO in India, aiming to list in the next financial year. Backed by Kotak Private Equity, the company has appointed investment banks to assist in the process and may file its draft prospectus with Sebi soon. The move reflects increased growth in India's data centre sector, driven by the digital economy, legislative support, and technological advancements.
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Brookfield-backed CleanMax to file ₹4,000-5,000 cr IPO via confidential route
Livemint
·
8d ago
Medial
CleanMax Enviro Energy Solutions, a renewable energy company backed by Brookfield, is planning to file for a confidential IPO valued at ₹4,000-5,000 crore. The Mumbai-based company aims to submit draft papers to the Securities and Exchange Board of India by the end of August. With Brookfield owning 48% of CleanMax, the move seeks to leverage growing investor interest in India's renewable energy sector.
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Bajaj Housing Finance Rs 6,560-cr IPO to open on Sep 9
YourStory
·
11m ago
Medial
Bajaj Housing Finance is preparing for its IPO, which is expected to raise Rs 6,560 crore. The IPO will commence on September 9 and end on September 11, with bidding for anchor investors starting on September 6. The company plans to issue fresh equity shares worth Rs 3,560 crore and offer for sale equity shares worth Rs 3,000 crore. The funds raised will be used to meet future capital requirements and comply with RBI regulations. Bajaj Housing Finance provides financial solutions for property purchase and renovation. The company's net profit grew by 38% in FY2023-24.
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Ola Electric eyes IPO filing by end-October in expedited listing plan
Economic Times
·
1y ago
Medial
Ola Electric, the Indian e-scooter maker, plans to file regulatory papers for its IPO of up to $700 million by the end of October. Backed by investors such as SoftBank and Temasek, Ola Electric seeks to fast-track its listing process. The company's IPO project is internally known as "Project Himalaya", and it has asked its bankers and lawyers to prioritize meeting a five-week deadline. Ola Electric's IPO roadshows are expected to take place in January or February. The company, with a 30% market share in India, recorded a loss of $136 million in the fiscal year ending March 2023.
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Exclusive: Ecom Express board approves Rs 2,600 Cr IPO
Entrackr
·
11m ago
Medial
Logistics firm Ecom Express appears close to file draft red herring prospectus as it has received board’s approval for initial public offering worth Rs 2,600 crore via a mix of fresh issue and offer for sale. The board at Ecom Express has passed a special resolution to approve its initial public offer of equity shares amounting to Rs 2,600 crore, which consists of Rs 1,284 crore of fresh issue and Rs 1,316 crore offer for sale, according to the company’s internal documents accessed by Entrackr. As per media reports, the Gurugram-based company already appointed bankers including Kotak Capital, IIFL, Axis Capital, and UBS for the IPO. Ecom Express’ major investors Warburg Pincus and Partners Group are likely to take part in the OFS, said sources. As per data intelligence platform TheKredible, Warburg Pincus is the largest external stakeholder with 48.26% followed by Partners Ground and CDC Group. This is the second attempt by the 13 year-old-firm for public listing. In February 2022, it approved a fundraise of up to Rs 4,860 crore via a public issue of shares. However, the firm put a hold on its IPO plan then. Meanwhile, Ecom Express is also raising Rs 1,424 crore (approximately $172 million) from existing investors via right issue. Since its inception, it has scooped up more than $250 million through equity and debt. Ecom Express claims to provide logistics services in over 2,700 towns and 27,000 pin codes in India. It employs over 50,000 people, and has more than 3,000 facility centers across the country. For the fiscal year ending in March 2023, Ecom Express’ revenue from operations increased by 21.9% to Rs 2,548 crore from Rs 2,090 crore in FY22. The company’s losses rose by 4X to Rs 375 crore in FY23 from Rs 91 crore in the previous fiscal year. It is yet to file its FY24 numbers. Ecom Express will be the second Indian startup from the logistics ecosystem that will be listed on the stock exchange. Its competitor Delhivery went public in May 2022. Flipkart-backed Shadowfax is also planning to raise up to Rs 3,000 crore through public listing.
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Behind Swiggy’s INR 10K Cr Revenue Run In FY24 Ahead Of IPO
Inc42
·
1y ago
Medial
Swiggy, the popular food delivery and quick commerce platform, is expected to report revenue close to INR 10,000 crore ($1.3 billion) in FY24. The company's revenue growth is driven by increased orders on Instamart and platform fees related to food delivery. Swiggy is preparing for an IPO and is aiming to file its draft red herring prospectus by March 2024. Achieving profitability will be crucial for Swiggy as it seeks to attract retail investors. The company has also taken steps towards diversifying its business with offerings like restaurant bookings, hyperlocal courier services, and an ads network.
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